The midfielder was sent off for two bookable offences towards the end of his team's 2-1 win at Real Betis last weekend, and although the Galician club appealed the sanction, it has been upheld by the Spanish Football Federation.
Coach Luis Enrique could field either Levy Madinda, Javi Rey or Alex Lopez in place of his skipper.
Lopez told reporters he is ready to fill the void left by Oubina for the visit of Lucas Alcaraz's side.
"I'm prepared for whatever role the coach tells me to play," he said.
"If he thinks I should play as the holding midfielder I will do that with all my virtues and defects, but while always trying to help the team so that we don't notice the absence of Borja and, above all, to make sure the three points stay in Vigo."
The midfielder also emphasised that there was a positive feeling around the club following the win at Betis.
Lopez said: "It feels great to come into training knowing that we've already got some points on the board. We are on the right path, although we can't get ahead of ourselves because there are still a lot of areas we can improve in."
Former Granada forward Nolito, who scored the winning goal against Pepe Mel's side, said he was looking forward to the game.
"It will be a special game because I had some great moments at Granada and I'll be reunited with some of my former team-mates," he told a press conference.
"But beyond that, it's an important game for us and we have to work hard so we can take all three points."
Nigerian striker Odion Ighalo has re-joined Granada on loan from Udinese and could make the squad for the visit to Vigo after declaring himself fit to play.
Carlos Aranda, meanwhile, is a doubt owing to a muscle strain.